Evening Star Newspaper, July 1, 1931, Page 13

FINANCIAL, WASHINGTON GAS | INCOME INCREASES Net Gain of $173,288" Re-! ported for First Five Months of Year. BY EDWAKD C. STONFE. According to the report filed today with the Public Utilities Commission, the Washington Gas Light Co. had an increase in net earnings in May of $23.- 280.51 over May, 1930, and made a net gain for the first filve months of the present year of $173,283.88, compared with the same period last year. Operating revenues in May amounted to $510.901.88, against $482,253.65 in May, 1930; operating expenses required, $309,236.68, against $308,167.01 a year ago, and total deductions from operat- ing revenues called for $34240143, in comparison with $339,697.88, leaving an operating income of $168,500.45, col pared with $142,555.67 in May, The company reported a non-operat ing income of $5,982.21, against $1.- 91‘.10 & year ago. Miscellaneous de- ductions amounted to $67,880.08, against $61,151.30, leaving a total net income of $106,602.58, compared with a May net in 1930 of $83,322.07. In its report for the first five months of 1931 the gas company reported oper- ating revenues totaling $2,869,707.36, against $2,546,405.58. Operating ex- penses were $1,742,308.3! compared with $1,615,868.69. leaving oprlnnl‘ income of $949915.89, in comparison with $766,769.90 to date in 1930 Non-operating _income totalled $24.- 209.21 against $8,936.76, with gross in- come standing a% $974.225.10, compared with $775,706.66 in the like period last year. After all other deductions. the as company had a net income of $637.- 724.73, against $464,435.87, or the above mentioned gain of almost $175,000. Fifth District Business Quiet. ‘William M. Hoxton, agent of the Fed- eral Reserve Bank of Richmond, issued his June Review of business and agri- cultural conditions in the fifth district today, the resume showing that busi- ness has been making time during the past month. Immediate needs are be- ing filled, but few advance orders are being reported, he said. At the Federal Reserve Bank of Rich- mond, he said, credit extended to mem- ber banks increased moderately between May 15 and June 15, and the bank further increased its total earning as- sets by purchases of reserve notes in the open market. PFederal Reserve notes in actual cir- eulation declined seasonally last month by about the usual ount. Loans by member banks in leading cities of the fifth district declined slightly between the middle of May and the middle of June and the banks also decreased their investments in stock and bcnds, but their deposits increased a little during the period. Outstanding loans on June 10, 1931, were 13 per cent less than a vear ago, but aggregate deposits were slightly higher on the 1931 date. Debits Off in 24 Centers. Debits to individual accounts figures in 24 trade centers of the fifth dis- trict were lower in the aggregate dur- ing the four weeks ended May 13, but on a daily basis the later period was a little higher than the earlier one. Debits in the four weeks ended Jun 10, 1931, were 9.7 per cent less than debits in the four weeks ended June 11, 1930, “a not very unfavorable com- parison in view of price changes dur- ing_the year,” Mr. Hoxton said. No material change was reported in the number of unemployed workers in the district during May and June. “The most important occurrence dur- | ing the period under review in labor circles was approval, by workmen af- fected. of the Southern Railway's plan to put all shop employes on a five-day- ‘week basis at the same hourly wage, this being done in preference to further reduction in the number of workers,” Mr. Hoxton said. ' Coal production continued relatively low, but on a daily basis slightly ex- cteded the rate of production in April. Mills Consume More Cotton. ‘The textile industry failed to measure up to the rate of operations in the pre- ceding year, but the fifth district mills did better than the average for the Na- tion and consumed more cotton than they did in May, 1930. ‘Tobacco manufacturing continued in larger volume than in May, 1930, the in- crease, according to Mr. Hoxton, being sntirely in cigarette production, of which the fifth district made about 87.5 per cent of the national output. Permits for building issued in the leading cities of the district in May exceeded in total valuation the permits issued in May last year, but the in- crease was due to high figures in a few cities, and in most localities construc- tion was still far below normal for the season. Big Crops Forecast. Retall trade in May, as reflected in in department store sales in the first five months of this year, averaged 4 per cent less than sales in the correspond- ing perjod last year. The district per- centages for both May and the first five months of the year were hetter than the figures for the Nation as a whole. Mr. Hoxton said that conditions for agriculture have thus far been favor- able, and hay erops, grasses and trees have shown remarkable recovery from last Summer’s drought damage. Early season indications were for good results this year, in soc far as quantity was concerned, but there were no signs of material improvement in prices for the principal money crops of the district. Banks Again Reduce Interest. ‘The Washington Clearing House Association has notified the member banks of the adoption of a new rule in effect today, reducing interest paid on demand deposits of individuals one- half of 1 per cent. The prevailing rate in this city on such deposits has recently been 1! per cent, the new rule calling for a payment of 1 per cent after today. Interest paid by banks and trust companies on deposits by other banks and trust companies also is to be 1 per cent. The action is taken because of low interest rates prevailing everywhere and has nothing whatever to do with the 3 per cent rate on saving deposits. World Outlook Held Improved. ‘The Lincoln National Bank's “Out- line of Business,” published today, con- siders that the Hoover moratorium roposal greatly helps the world out- ook for business. Perhaps business need not endure a Summer as inactive as had_been anticipated, the bank says. The advance in prices of se- curities and commodities is bound to influence industrial activity. “It is unlikely that world economic stagnation can be cured by the admin- istration of any single remedy. But the present xroposal mlght. well be- | come the medicine needed to start re- covery. The medicine was offered at a time when the condition of the world patient was at possibly the lowest state since the economic illness began.” After admitting that a certain amount of unfavorable business news is sure to come out in the next 60 days, the bank states that a certain amount of confl- dence in early Fall developments has de- vel before the debt plan was made ‘This optimism, coupled with a might bmfin permanent improvement, summary concludes. Heard in Financial Distriet. Robert V. Fleming, president of the Riggs National Bank, has been with the bank just 24 years tocay. He ¢ntered the employe of the bank on July 1, 1907, as a_messenger boy. J. Maynard Magruder, former mana-~ ger of the Martinique Hotel, as well as several oth<r hotel properties, has de- cided to ;ntexr'thhe ulz:‘uunu field. He is graduate of the rgetown umvmltg mhml and will be associated Jorgensen. Note.—All stocks are sold in one hundred share lets excepting those designated by the letter s (80s) (350s). —Prev. 1931~ High. Low. 14% 23% 2 11% 104% 1% 2% 45% 109'% 16% 11 111% 2%% 24% 34 1098 1064 16" 424 1% 8l 30 118% 5% 84 23 157% 45% 107 124 185% 1341 21% 1% 3% 114 8318 4 T0% 1 4% 9'n NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Abitibl Pow & Paper Adams Express (1).. Adams Exp pf (5)... Adv Rumiey (new).. Alr Reduction (t43%) Allex Corp . Aller Cp $30 ww 6% . Alleg Cp $40 ww 5% . Allied Ch & Dye (n6) Allis Chalmbers (3). Amerada Corp (2)... Am Beet Sugar...... Am Brown Bov Elec. 2 Am Br B Epf«7)... 1308 Am Can (16).. . 30) Am Car & Fdry (1).. 3 Am Car & Fdy pf (1) 708 Amer Col'type (80c). Am Comel Alcohnl . Am Encaustic Till's. Am European Secur. Am & For Power Am & For Pow 2d pf. Am Home Pr (4.30) Am lce (3 Am Internatio Am La Fr & F . Am Locomotive (1).. Am Mch & Fdy 1.40. Am Metal Ce Am Nat Gas pf Am News (13%) Am Pow & Lt (31) AmP&LtDIA (O).. Am P& L pf A st (5) Am Ra&Std San ¢0c. 39 Am Rad & S 8 pf (7).1008 Am Republic: 1 Am Rolling Mi) Am Shipbuilding Am Snuff pf (6). Am Solv & Chem pf. Am Stl Foundries(1) Am Stores (123)... Am Sugar Ret (6)... Am Tel & Tel (9) Am Tobacco (16) Am Tobacco B (16).. Am Water Wks (3).. Am Wat W 18t pf (6) Am Woolen Am Woolen pf. Anaconda Cop (1% Anchor Cap (2.40) Archer Danlels M Armour of Del pf (7) Armour of Il A..... Art Metal Const (1). Associated Apparel.. Asso Diy G (23). Atch To & 8 Fe (10). Atch To&S Fe pf (5). Atl Coast Line (7)... Atl Gulf & West Ind. Atlantic Refining (1) Atlas Powder (4). Atlas Stores (1). Auburn Auto 14 Austin ) B Balto & Ohio (§) Bambetger pf (614). B50s Barnsdall (A) (1)... 16 1 1 Belg N Ry pt pf t4.82 2 Bendix Aviation (1). 52 Best & Co (2) 2 Bethlehem St ; Blaw-Knox (1%4)... Bloomingdale Bros.. 10s Bohn Alum & Br 1%. Borden Co (k3)... Borg Warner (1)... briggs Mg (11%).. Briggs & Strat (2).. Brockway Mot pf. Bkiyn-Man Tr (4)... Bkiyn Brown Bruns-B Budd Wheel (1). Bullard Ci seee Burroughs A M t1%. ! Bush Terminal (2%) Butte Copper & Zinc. Butte & Superior. Butterick Co. Rvers (A M Canadian Pacific Cannon Mills ( Case (J 1) (8) Caterplilar Trae (3). Celanese Corp. Celotex Co... . Cent Aguirre As1%. Century Rib Mills. .. Cent R Mills pf (1) Cerro de Pasco(1.50) Certain-teed Prod. & Ohio (2%). »f. Chi Mi1 St P& P pf.. Chi & Northwest i4) 4 Chi Pneu Tocl. .. 101% £y 9% 20% Chi Pneu Tool pf . Chi R1& Pac(m2y) Chickasha Cotton Ol Childs Co (2.40)..... Chrysler Corp (1). City Ice&Fuel (3.60) City Ice & F of (635) 30s Coca-Cola (17%) . +ve Colgate-Pal-P (2%). Colg-Palm P of (8).. Collins & Atkman. Colo Fuel & Iro Col Gas & Bl (2). Col Gas & El pf A (8) Columbia Graph é6e. 176 Col Grapho ctfs 56e.. 94 Columb Carbon (§).. 20 Comel Credit (2).. 2 % Comel Cred pf B (2). 108 101% 1% 25 % 1121 2u 3 M 107% 1% 144 7L 118% 118 128% 9% EDS 344 2 304 Comm Inv Trust (3). 1 Comecl 1 T ev pf ( Comm Solvents (1).. B4 Comwlth&Sou (40¢). 104 Cmwith & Sou pf (§) Congoleum-Nairn. Congress Cigars Consol RR C pf (8).. ‘onsol Textil Contafner Corp (A).. Contl Baking A..... Contl Baking B Contl Baking pf (3). Contl Motors. Contl Of1 of Del Cont Shar Corn Products (14).. Corn Prod pf (7).. Cuban-Amer Sugar.. A7 Cuban Am Sugar pf. 80s Cuban Dom Suga 4 Curtis Publish .er Curtis Publish pf ¢7) 1 Curtiss Wright Corp 51 Curtiss Wr Corp A 7 ravisan Chemical ] Drlaware & Hud 3 Denver & RG Wof.. 2 Detrolt Edison (8) 1 Devoe & Ray A(80c). 1 Otamond Mtchof 1% 1 Dome Mines (1)..... 1 Domn Stores (1.20).. & Douglas Afr (11%).. 4 Drug Corp (4)... 13 Dupont de Nem (4).. 109 Du Pde Ndehof (6) 2 Eastman Kodak (18) 28 Eastman Kod pf (6). 10s Baton Axle (1 60)... 23 Eitington Sehild Klee Auto Lite (6).. 70 Elec Boat......cco0 9 Flee Pwr & Lt (1)... 188 Flec Pow & Lt pf (T) 2 ec Ster Bat (§) 2 Eng Publie 8ve (1) 1 Eng Pub Sv pf ). 2 Erie RRuvsvesovaswe 1 1 -Prev, 1031~ Stoek and Bates— Hich. Low. Dividend Rate. Add 00. High. 46% 26 Erie RR1stpf (4)... 34 12% 6% Eureka Vac Cleaner. 1 8% 4 Evans Auto Produet ). 2 Fid Ph Fire In (2.60) 12 Fllene's pf (6%).... 108 Firestone T& R (1). 4 1 " Foster Wheeler (3). 80 Fourth Nat Inv m55e 6 Fox Film (A) (2%). B1 Freeport-Texas (3).. 11 11C0 (6).... 208 Gen AmInv pf (§) Gen Am k Car(4) Gen Asphalt (3) Gen Baking (2) 8508 1 37% 2008 114% 219 44 ). . Gen G & EI A (e30e). GenG & Elpf A (). Gen Mills (3).. Gen Motors (3) . Gen Motors pf (5). Gen Ptg Ink pf (8). Gen Refractories /4) Gen Theater Equip.. Gillette Saf Rasor. Graham-Paize. ..... Granby Con Min (1). Grand Union. .. Grand Union pf (3).. Grant (WT) (1)..... Granite City Steel(2) Great Northn pf(4). Grt Nor Ore (3) Grt Western Su; 14 Grt West Sug of (1).1208 Grigsby Grunow.... 16 Hacken Watpf A 1% 20s Hann Dept Stores... 7 Hall (WF) PrCo(3) 5 Hamiliton W ptf (§).. 10s Hartman Corp (B).. 1 Hersh Choe pf (16).. 1 1024 Hellander Sons. .... 2 15 Homestake Min (17). 1 89% Houston O11. . . 47 @ Houston Of] (new).. 22 104 Howe Sound (2).... 19 22 Hudson & Man (3 Hudson. Motor (1) Indian Refining. .... Indust Rayen (4)... Inland Stee] (234) Inspiration Copper. Interb Rap Transit. Int Bus Mach (n6).. Ltd 60c. 12 9% 4 2 11 47 7 134% Int HyAro E1 A (e2). 25 int Matehof (4).... & Int Mer Marine (1) int Nickel (80e) Int Paper pt int Paper & Pow C. . Int Paper & Pwr pf.. Int Salt (3). Int Shoe (3) Int Tel & Tel (2).. 40% Johns-Manville (3). 182 1231 1161 Jones & Laux of (). 20s 118 64 40 KansCity Soupt(4) 2 Ka (J) &Co (1). Kelsey-Hayes W Kelvinator Corp. Kresge (88) Co - 16 Kreuger&Toll (161) 95 Kroger Groc&Bak 1) 36 Lehman Corp (3) Lehn & Fink (3) Lib Ow Ford Glas: Liggett & Myer (15). Livx & Myers B (5) Lily Tulip Cup (1%) Liquid Carbonfe (3). Loew's Ina (3)... Loft Ine. .... Loose-Wiles (12.90). Lorillard «F) Co. ... LouG&EA (1%).. MeAnd & Forbes (2). McKeesport T P t5% McKesson & Rob ‘1) McKes&Rob pf(3%) McLellan Stores. ... Mack Trucks (3).... Macy(RH) & Co(n3) Magma Copper (1) Mallison & Co Man Elevmg ManattSugar pf.... slaracabo Ofl Exp. . Marine Mid (1.30) Marmon:Motor Car.. 20 Marshall Field (2%) 4 Mathieson.Alkali (3) 4 2215 Mathieson pf (7).... 50s 1181 May Dept Strs (23%). 100 % Mavtag Col... . 4% Maytag Cotpf (3) Maytag Co 1st pf (§) Melville Shqe (2)... Mexican Seaboard. Miami Coppey . Mid Continenkt P Midiand Steel \(3) Minn Moline Pow Mo Kan & Texas. ... o Kan & Tex pYf (7) Missouri Pacific... Missour! Pae of 45) Monsanto Ch W(. Montgomery Wai Mother Lode. . . Motor Meter G & EL. Motor Wheel (1)..a 2 Mullina Mfe. . 516 Nash Motors (4).... 21 h Ch & 8t L (8).. 108 at Aeme. .. 2 Nat Bella Hess...... ! 3 Nat Biscuit (3.80)... ' 77 Nat Biscuit pf (T)... .1 150% at Cash Register A. § 7 Nat Dairy (2.60). 58 Nat Dist Prod (3) Nat Lead (5). NYChi&StL(6).. N Y Investors . NYNH&Hart(6). 14 N Y Ont & Western.. 10 N Y Steam 18t pf (1) 80s Noranda Mines. “ Norf & West (1. Norf & Waest pf (4 North Am Aviatian Northwest Tel (3).. 7 OhtoOfl....... . 2 Oliver Farm Equip.. 58% 3$1% Otis Blevator (334). 129% 124% Otis l.l::lbl ®)... 1% Pacific Coast 2d pf.. 30s 38 PacificGas&Ei(3). 9 48% Pacifio Lighting (3). 4 15 Pacific Mills Y .100e 193 116; Pacifio Tel & Tel (7) 20s 125 5% Packard Motor (46¢) 19% Paramount-Pub 3%. ISTOCKS N RALLY AFTER EARLY DROP Market Slowly Retraces Ground Lost—Trading in Small Volume. BY GEORGE T. HUGHES. Speclal Dispateh to The Sta NEW YORK, July 1.—A weak open- | ing and a strong close was the nockl market’s response today to the varying advices from Washington and Paris as to the status of the Franco-American debt negotiations. Stocks were freely sold at the opening, rallied after an hour or 80, advanced ir- regularly through the afternoon and made their best prices in the last hour. Short covering was responsible for much of the improvement. That, however, does not detract from its significance, for the shorts would not have covered hed they not feared the market reaction to any favorable turn of events interma- tionaily. They were impressed also by WOULD RENEW CARTEL. By the Associated Press. European and Chilean nitrate pro- ducers are conferring at the Hague on the question of renewing the interna- tional nitrogen cartel. Advices to the Commerce Department said the producers were lmr;y ad- verse factors of world-wide overproduc tion, lessened consumption and alleged ly disproportionate sales quotas in some oountries. ‘The existing agreement was drawn up in Prris last year. The large synthetic producers in" Germany, England and Norway have a sales agreement among themselves. ‘“The outside producers in such coun- tries as Belgium, Czechoslovakia, Poland and the Netherlands are apparently de- manding what is considered by tI larger producers as a disproportionately large sales quota,” the Commerce De- partment said. “The basis for the high quota is fair- ly large sales records made in the last year. It is reported that sales of cer- tain producing countries were increased at the cartel's expense by cutting of prices. “Another disturbing factor is the sharp decline in nitrogen consumption by agriculturists, which has made it dlmdfiul'. 'nmlorfl:m demand for the im- mediate future, the European Vi indicate. = Dividend payments were made host of banks and other l;:cfl .l b(y:l g institutions he |3.883. Grain and grain products, Live stock, FINANCIAL. FREIGHT LOADINGS. By the Associated Press, Revenue freight loadings for the week ending June 20 were announced by the American Railway Association as total- ing 739,116 cars. This was an increase of 6,663 cars above the preceding week end, a de- crease of 181,529 below the same week a year ago. Miscellaneous freight loadings totaled 293,624 curs, & decrease of 70,582 below the same week of 1930. Merchandise, 217,133; decrease. 23,623. Coal, 109,337; decrease, 23,160 30,614; decrease, 1 .640; decrease, 32,553. Coke, 5,451; decrease, 32,763; decrease, 6,934, 19,554; decrease, 1,771. e Interest on the Washington Stock Exchange today centered ‘I': Capital Traction 5s and Lanston Monotype, prices being little changed. REAL ESTATE LOANS lade at Low Interest Rates T i'l.ER & RUTHERFORD 7th and Indiana Ave. NW. LOANS ON IMPROVED DISTRICT OF COLUMBIA REAL ESTATE SECURITY €6th Serles of Stock Now Opem For Subseription James E. Connelly President James F. Shes| Secretary | Equitable Co-Operative Bldg. Ass'n Organiged 1879 JOHN JOY EDSON, President 51st YEAR COMPLETED WALTER S. PRATT, Jr., Secretary 31C. & P. OF BALTIMORE | the aggressive leadership on the other side, and the net result was higher prices. Among the late features were a re- covery in Baltimore & m‘no, w{nlch ren to more than 4 points from its esrly W ednesd 2 Pghe s recovery In the copper shares, | (|| vnger v 5. | ' ednesday, July 1 strength in the mail order stocks, espe- ' ||| supervision $3 yr. and uj cially Sears, Roebuck, and a rally in BOTH ADDRI s United States Steel. | if The overnight news from Paris was [l terest Paid disquieting, telling as it did of an ap- F o par:nt impasse in the international debt ranklin moratorium _negotiations. Stocks were = National Bank | Pa. Ave. at 10th 1111 Conn. Ave. rates, but in any case it was realized | that no decision could be reached be- American and Foreign Power were all in demand. Accounts Solicited Open Until 5:15 pm. offered freely at the start of business and generally lower quotations resulted. Special pressure was ex:rted against the copper shares because of the unsatis factory demand for the metal and be- cause the copper stocks would be most unfavorably affectzd by any failure of the American plan for relief of Ger- many. Anaconda, opening on a block of 5,000 shares, was off almost 5 points from last | week’s high and almost & point from the preceding close. The railroad stocks were weak in the early trading, particu- larly Baltimore & Ohio. Under $60 a " o8 share that stock was down 8 points| O YO SAVIN from its recent best price. The street| seemed more dublous about the car-| fore the end of the Summer. The mod- | erate improvement in car loadin i ,,,'_,‘9;,:,’_'""’ - e was il D. C. Real Estate e selling did not get very far. | 0, Insiead, after an hour of trading, | at 6% Interest . .. prices began to improve and individuai stocks showed gains on the day. Wool- | s b bl o worth was prominent among these, per- 2 % 7 haps forecasting some. extra. distribu- | JENRUEST g distiagive tion es a result of the recapitalization | TERR of the British subsidiaries. Inde- | pendent motors did better, notably | Studebaker and Chrysler. _Auburn Auto had a sharp sdvance. The buy- | ing in J. I Case. which had been such a feature Tuesday, kept up. Final- ly the utilities, or some of them, swung into line. Consolidated Gas, Electric Power & Light. National Power & riers receiving their desired increase in | Light, International Telephone and Open Daily 9 to § Saturdays Until Neon NAtional 1381 949 NINTH ST. UNDER SUPERVISION OF U 3 TREASU! NETS $311,959 IN MAY Telephone revenue of the Chesapeske | & Potomac Telephone Co. of Baltimore City in May amounted to $1.228,740, the report of operations just filed with | the Maryland Public Service Commis- | | sion shows. Expenses during this period were $016.781. making net telephone | revenues $311,959. Telephone ' revenues for the five months ending May 31 were $5951,728, 2s compared with $5852,380 for the | same period last year. Expenses for the | ',‘:'.flc'mm ending Mluy, 31, were sft-“ as compared with $4,596,896 for v the stmilar period in 1930." Net tele- ||| WY/E, have adequate funds for phone revenues for the first five months YV loans on improved Real of this year were $1,384,311 ||| Estate in nearby Montgomery ‘The company’s revenues for the 12 County, Md, and the District months ending May 31 were $14.279400. || of Columbia for periods of 3, l‘x'pflnul during this period were $1 5 or 10 vears. Prompt deci- 168 sions given applications. 45, making net telephone reven: 53 % $3,110,655. This is equivalent to 6.65 per cent on the average value of the muny‘lrvrropeny as fixed by the Pubs: B,e e’ez Ccn;lmhsiun as of De- cember 31, 1924, plus additions. This value on May 31 was § | —— BOSS and PHELPS Renltors FOUNDED 1907 17 K St N.W. n Correspondent & Loa: Johw Hancock Mutual Life Insuram RAILROAD INCOME OFF 35.4 PER CENT FOR MAY By the Associated Press. NEW YORK, July 1.—The first 74 raiiroads to report May results showed net operating income of $39,750.000. a decrease of 35.4 per cent from $61,543,- 000 reported for the like month last year. In April this year the same roads reported $38,357.000, a drop of, 35.7 per cent from the like month last year. the basis of reports to date, all | class 1 carriers had net operating in- come amounting to approximately $41,- 000,000. This would compare with $69,- 173,723 in May last year. Carrying chickens by the legs with heads down has been made a punish. able edme in Belfast, d. Money to Loan Seengod b7 S dosd ot ezt om st Joseph 1. R T (o] FIRST MORTGAGE SECURITIES ‘These conservatively appraised non-fluctuating investments are secured on _income - producing properties right here in the NA- TION'S Capital. The attractive yield of 6% offers an opportunity to accumu- late a lmd! income. Denominations as low as $100 thly Payments if Desired send" 761 "Hookiet" Fhe ‘Success Plan” REALESTATE MORTGAGE & GUARARTY CORPDRATION 1610 K St. N.W. National 1 Invest Your Dividends or Interest Checks in Our Guaranteed Meoney on Hand to Loan on First Deed of Trust 69 Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Compai Columbia Building Association 716 11th St. N.W. Under Government Supervision Pays 5% Compounded Semi-Annually wet Us Refinance Your Maturing Real Estate Loan No Commissions Charged 22 Years’ Successful Business Without the Loss of a 53 Do You Wish A Loan Those who desire to borrow money to pur- of Real EState chase a home, refinance present indeBtedness or or to improve property, should see us. Applications will receive prompt and cour- teous attention. s R — Take Up a First Mortgage? Loans Repayable Monthly No Brokerage . . . No Commissions 915 F ST. N.W. OPPORTUNITY TO round out our used car Stock we need ten automobiles. As an inducement to secure these cars without delay, we are willing to make spe- cial allowances on your present car toward the purchase of a brand-new Franklin of the latest series, This s not a clean-up of old models. The factory has assured us that the present series will be continued throughout the year. Right now we have the iollowing used cars in stock: 1930 BUICK 5-PASSENGER COUP! 1926 FRANKLIN SEDAN 1928 FRANKLIN 7-PASSENGER SEDAN . Remember, we want but ten additional cars. CALLAN MOTORS Franklin Distributors 1529 M St. Drive the mew Franklin and erperience riding like gliding. MORTGAGES DON'T LET SURPLUS MONEY SLEEP Idle money, like idle hands, is non- productive. Invest your money in our 6%, FIRST MORTGAGES and let it be thus profitably employed —earning a steady income, with per- fect safety to principal and surety of uninterrupted return. Over a Third of a Century Without a : May be purchased in amounts from $250 up—upon our convenient Partial Payment Plan if you wish. 2. F, SAeUL. .G National 2100 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY BIGHTH YEAR Not a Fized Trust MAKE THE Worst Depression YOUR Best Opportunity The worst depression? True, for those who sell their holdings at today’s prices, but— for the buyers of“Mu-tbum Investors Trust uhd:- it :::u len opportunity; it means sharing in rise in s 5 seven score industrials, railroads, public utilities, and insurance companies on their return to normal. It means they can afford to await the climb back to normal while their i ider “Seven League Boots” ::‘hl;:gfifly-.hhh-hy. Address .ivviinneismesviessiosssetttiiaiittititesiracen A. S. GOULDEN & CO. Inc. Woodward Bldg., Washington, D. Cy